Parr Mcknight Wealth Management Group LLC Decreases Stake in Comcast Corporation $CMCSA

Parr Mcknight Wealth Management Group LLC lowered its stake in shares of Comcast Corporation (NASDAQ:CMCSA) by 45.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,628 shares of the cable giant’s stock after selling 29,749 shares during the period. Parr Mcknight Wealth Management Group LLC’s holdings in Comcast were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Comcast in the fourth quarter valued at about $2,498,626,000. Capital Research Global Investors lifted its stake in shares of Comcast by 46.1% during the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock worth $1,059,053,000 after purchasing an additional 10,633,206 shares during the period. State Street Corp lifted its position in Comcast by 4.6% during the third quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after buying an additional 7,917,335 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Comcast by 2,970.5% during the 4th quarter. SG Americas Securities LLC now owns 7,394,728 shares of the cable giant’s stock worth $221,028,000 after acquiring an additional 7,153,895 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Comcast by 1,356.2% in the 3rd quarter. Two Sigma Investments LP now owns 6,556,098 shares of the cable giant’s stock worth $205,993,000 after buying an additional 6,105,867 shares during the period. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CMCSA shares. Citigroup raised their price target on shares of Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a report on Friday, April 24th. New Street Research dropped their price objective on Comcast from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research report on Wednesday, April 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $29.00 price target on shares of Comcast in a report on Thursday, April 23rd. Finally, Scotiabank upped their target price on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Comcast has a consensus rating of “Hold” and a consensus price target of $34.79.

Comcast Stock Performance

Comcast stock opened at $24.87 on Monday. The firm has a 50 day simple moving average of $27.26 and a 200-day simple moving average of $28.55. Comcast Corporation has a 12-month low of $24.53 and a 12-month high of $36.66. The stock has a market capitalization of $88.84 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 2.00 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. As a group, equities research analysts expect that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Wednesday, July 1st. Comcast’s dividend payout ratio (DPR) is currently 25.98%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.